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02-46 NASD Announces Nomination Procedures for Regional Industry Member Vacancy on the National Adjudicatory Council

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INFORMATIONAL

NAC Nominations

Nomination Deadline: September 5, 2002

SUGGESTED ROUTING

KEY TOPICS

Legal & Compliance
Senior Management

National Adjudicatory Council



Executive Summary

The purpose of this Special Notice to Members is to advise members of the nomination procedures to fill one upcoming vacancy on the National Adjudicatory Council (NAC). The three-year term of the NAC regional Industry member from the North Region expires in January 2003.

Exhibit I contains information regarding the NAC regional Industry member whose term expires in January 2003. Exhibit II contains a list of all NAC members. The procedures to fill the NAC regional Industry vacancies are outlined in Exhibit III. Also, a Candidate Profile Sheet is included in Exhibit IV.

Nomination Process

Members are encouraged to submit nominations for the upcoming NAC vacancy. To nominate a candidate, members should submit a cover letter and the Candidate Profile Sheet (Exhibit IV) to the appropriate Regional Nominating Committee Chair, the NASD District Director, or NASD Corporate Secretary (listed in Exhibit I) by September 5, 2002.

The completed Candidate Profile Sheets will be provided to all Regional Nominating Committee members for review. On or about September 19, 2002, the Regional Nominating Committee will provide NASD members with written notice of the NAC candidate that the Committee proposes for nomination to the National Nominating Committee. Pursuant to Article V, Section 5.3(a) of the NASD Regulation By-Laws, the NASD National Nominating Committee shall nominate all candidates for the NAC for subsequent appointment by the Board.

Questions/Further Information

Questions concerning this Special Notice to Members may be directed to the District Directors listed in Exhibit I or to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, NASD, at (202) 728-8062 or via e-mail at barbara.sweeney@nasd.com.

National Adjudicatory Council Membership and Function

Membership

The NAC consists of 14 members—seven Industry members and seven Non-Industry members. Exhibit II contains a list of all current NAC members. Two Industry members are appointed by the NASD Regulation Board of Directors as at-large members. Five Industry members each represent one of the following geographic regions:

West Region: Hawaii, California, Nevada, Arizona, Colorado, New Mexico, Utah, Wyoming, Alaska, Idaho, Montana, Oregon, and Washington.

South Region: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma, Tennessee, Texas, Florida, Georgia, North Carolina, South Carolina, Puerto Rico, Virginia, Canal Zone, and the Virgin Islands.

Central Region: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Illinois, Indiana, Michigan, Western New York state, and Wisconsin.

North Region: Delaware, Maryland, Pennsylvania, West Virginia, District of Columbia, New Jersey, Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and New York (except for New York City, Long Island, and Western New York state).

New York: New York City and Long Island.

We are seeking nominations for the North Region.

Function

According to the NASD By-Laws, the NAC is authorized to act for the NASD Board of Governors in matters concerning:

  • appeals or reviews of disciplinary proceedings, statutory disqualification proceedings, or membership proceedings;


  • the exercise of exemptive authority; and


  • other proceedings or actions authorized by NASD rules.

The NAC also considers and makes recommendations to the Board on enforcement policy and rule changes relating to the business and sales practices of NASD members and ssociated persons.


EXHIBIT I

NAC Industry Member With A Term Expiring In January 2003


North Region (Districts 9 and 11)

NAC Incumbent: Theodore W. Urban

If you are interested in nominating yourself or a colleague to represent the North Region for a three-year term on the NAC, please submit a cover letter and a completed Candidate Profile Sheet (Exhibit IV) to any of the following individuals by September 5, 2002.

Peter Wheeler
Regional Committee Chair

One University Office Park
29 Sawyer Road
Waltham, MA 02453-3483

(781) 736-0700

John P. Nocella
District 9 Director

NASD
11 Penn Center
1835 Market Street, 19th Floor
Philadelphia, PA 19103

(215) 665-1180

Gary K. Liebowitz
District 9 Director

NASD
581 Main Street, 7th floor
Woodbridge, NJ 07095

(732) 596-2000

Fred McDonald
District 11 Director

NASD
260 Franklin Street, 16th
Floor Boston, MA 02110

(617) 261-0800

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary

NASD
1735 K Street NW
Washington, DC 20006

(202) 728-8062


EXHIBIT II

2002 National Adjudicatory Council

Mary E.T. Beach Attorney
Herbert H. Brown Attorney
David A. DeMuro Lehman Brothers
Alice T. Kane Blaylock
Douglas L. Kelly A.G. Edwards & Sons, Inc.
Philip R. Lochner Director of Public Companies
Mark Madoff Bernard L. Madoff
Philip V. Oppenheimer Oppenheimer & Close, Inc.
Mark A. Sargent Villanova University School of Law
Richard O. Scribner Recording for the Blind & Dyslexic
William A. Svoboda Morgan Stanley
Theodore W. Urban Ferris, Baker Watts, Incorporated
Barbara L. Weaver Legg Mason Wood Walker, Inc.
Elliott J. Weiss University of Arizona College of Law


EXHIBIT III

National Adjudicatory Council Nomination Procedures

1. NASD maintains Regional Nominating Committees in the manner specified in Article VI of the By-Laws of NASD Regulation, Inc.
2. Members located in the North Region are hereby notified of the upcoming election of members to the National Adjudicatory Council and are encouraged to submit names of potential candidates to their respective Chair of the Regional Nominating Committee, District Director, or to NASD Corporate Secretary Barbara Z. Sweeney (see Exhibit I) by September 5, 2002.
3. Nominees will be asked to complete a Candidate Profile Sheet which will be reviewed by the Regional Nominating Committee.
4. The Regional Nominating Committee shall review the background of the candidates and the description of the NASD membership provided by NASD staff and shall propose one or more candidates for nomination to the National Nominating Committee. In proposing a candidate for nomination, the Regional Nominating Committee shall endeavor to secure appropriate and fair representation of the region.
5. On or about September 19, 2002, the Regional Nominating Committee shall notify in writing the Executive Representatives and branch offices of the NASD members in the region the name of the candidate it will propose to the National Nominating Committee for nomination to the National Adjudicatory Council.
6. If an officer, director, or employee of an NASD member in the region is not proposed for nomination by the Regional Nominating Committee and wants to seek the nomination, he or she shall send a written notice to the Regional Nominating Committee Chair or the Secretary of NASD within 14 calendar days after the mailing date of the Regional Nominating Committee's notice (#5 above) and proceed in accordance with the Contested Nomination Procedures found in Article VI of the NASDR By-Laws.
7. If no additional candidate comes forward within 14 calendar days, the Regional Nominating Committees shall certify their candidates to the National Nominating Committee.

Additional information pertaining to the National Adjudicatory Council Election Procedures can be found in Article VI of the By-Laws of NASD Regulation. The By-Laws can be found in the online NASD Manual at www.nasd.com.


EXHIBIT IV Candidate Profile Sheet

  Date:      
Current Employment
Name:   CRD#:  
Firm:   #RRs at Firm:  
Title/Primary Responsibility:
 
Address:  
City:   State:   Zip:  
Phone:   Fax:  
E-mail:  
Prior Employment (List the most recent first. Feel free to include extra pages if necessary.)
Firm:  
Title/Primary Responsibility:  
Firm:  
Title/Primary Responsibility:  

General Areas of Expertise (please check all that apply) Product Expertise (please check all that apply)
• Compliance/Legal • Investment Advisory • Corporate Bonds • Investment Company
• Corporate Finance • Retail Sales • Direct Participation Programs • Options
• Financial/Operational • Trading/Market Making • Equity Securities • Variable Contracts Securities
• Institutional Sales • Other • Municipal/Government Securities • Other
   
   

Memberships/Positions Held in Trade or Business Organizations
 
 
 
Past NASD Experience and Dates of Service (please check all that apply)
Committee Member (Identify committee:) Approx. Dates:
Arbitrator Approx. Dates:
Mediator Approx. Dates:
Expert Witness (arbitrations; disciplinary proceedings): Approx. Dates:
Other: Approx. Dates:
Educational Background
School: Degree:
School: Degree:


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